New Delhi [India], October 23 (ANI): Several Parsi and Zoroastrian community organisations have written to Prime Minister Narendra Modi expressing solidarity with Tata Trusts amid ongoing developments involving the group, arguing that the issue goes beyond a corporate or shareholder dispute and has implications for one of India's most prominent business institutions.

In a letter, the organisations urged the Prime Minister to ensure that the values, governance model and long-term vision associated with the Tata Group are protected.

The letter argued that the ownership structure of Tata Sons, in which Tata Trusts play a significant role, had enabled the group to pursue long-term objectives while maintaining commitments to philanthropy and social responsibility.

The organisations also raised concerns about the debate surrounding the proposed listing of Tata Sons, saying it should not be treated merely as a regulatory or technical issue.

They argued that changes affecting the balance between long-term stewardship and short-term market expectations could influence the group's future direction and its approach to national development.

The letter stated, "The debate surrounding the listing of Tata Sons should not be viewed merely as a regulatory or technical matter. The implications reach much further. Any change that alters the balance between long-term stewardship and short-term market expectations could affect the very fabric, ethos and defining character of Tata Sons and, by extension, the wider Tata Group".

Expressing concern over the developments involving Tata Trusts and Tata Sons, the organisations said the matter had implications beyond the immediate corporate dispute.

'At stake is the future character and purpose of one of India's most respected institutions, with a global footprint and reputation,' the letter stated.

The organisations urged stakeholders to approach the ongoing challenges with the broader national interest in mind and protect the legacy associated with the Tata name.

The letter was signed on behalf of the boards of trustees of the Funds and Properties of the Parsi Panchayat Bombay, the Federation of Parsi Zoroastrian Anjumans of India, the Federation of Zoroastrian Associations of North America, the Zoroastrian Trust Funds of Europe, the Global Council of Zoroastrians Trust and the World Zoroastrian Chamber of Commerce.

The letter comes amid an ongoing dispute over the future governance and ownership structure of Tata Sons, the holding company of the Tata Group.

Tata Trusts, which holds around a 66 per cent stake in Tata Sons, has maintained that the company should remain unlisted, arguing that its existing ownership structure supports long-term decision-making, philanthropy and social responsibility.

However, the Reserve Bank of India rejected Tata Sons' application to surrender its registration as a core investment company in September 2026, bringing the question of a stock market listing back into focus.

Following the RBI's decision, the Tata Sons board agreed to initiate steps towards a possible listing, a move opposed by Tata Trusts. The disagreement has raised broader questions about the balance of authority between Tata Sons' board and its majority shareholder. (ANI)